Though few could hope to do so well as he, I
have always thought that in addressing shareholders, railway chairmen
might trust less to formally prepared speeches and more to their powers
of extemporaneous exposition. Some chairmen do this I know, but others
still read from manuscript. However able the matter, the reading, in my
judgment, is much less effective than the spontaneous expression of the
speaker. The atmosphere created by the meeting, often a valuable
adjunct, cannot be taken advantage of when the speech is read, nor can
the chance of improvising a telling point, of enforcing an argument, or
of seizing a passing mood of the audience or some fleeting incident of
the moment.
Sir Ralph was made a Director of the Midland Great Western Company in
1864, and a year later was elected chairman, a position he occupied for
the long period of 39 years. In 1864 the railway was in a very bad
condition, wretchedly run down, and woefully mismanaged. Indeed,
according to an official report at the time, worse than mismanagement
existed. It was stated: "There were grave charges of official corruption
which necessitated the retirement of one of the leading officers from the
company's service.
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